US Bancorp DE Decreases Stock Holdings in Devon Energy Corporation $DVN

US Bancorp DE reduced its position in shares of Devon Energy Corporation (NYSE:DVN) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,979 shares of the energy company’s stock after selling 4,764 shares during the quarter. US Bancorp DE’s holdings in Devon Energy were worth $3,594,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DVN. GAMMA Investing LLC grew its stake in shares of Devon Energy by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 19,428 shares of the energy company’s stock valued at $727,000 after purchasing an additional 7,648 shares during the period. Fifth Third Bancorp grew its stake in shares of Devon Energy by 28.5% during the 1st quarter. Fifth Third Bancorp now owns 35,510 shares of the energy company’s stock valued at $1,328,000 after purchasing an additional 7,873 shares during the period. Ritholtz Wealth Management grew its stake in shares of Devon Energy by 96.9% during the 1st quarter. Ritholtz Wealth Management now owns 56,980 shares of the energy company’s stock valued at $2,131,000 after acquiring an additional 28,046 shares during the period. Sound Income Strategies LLC grew its stake in shares of Devon Energy by 100.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company’s stock valued at $71,000 after acquiring an additional 956 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Devon Energy by 11.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,952 shares of the energy company’s stock valued at $260,000 after acquiring an additional 736 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of recent research reports. Siebert Williams Shank boosted their price objective on Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Jefferies Financial Group boosted their price objective on Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Monday, July 14th. Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a research note on Thursday. Mizuho cut their price objective on Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Royal Bank Of Canada set a $42.00 price objective on Devon Energy and gave the company a “sector perform” rating in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $43.75.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the sale, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Devon Energy Trading Up 2.2%

DVN stock opened at $33.22 on Tuesday. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $42.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.89 and a beta of 1.03. The business has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $33.02.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. Research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio is 21.52%.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.